Following up on an article published last year in IFLR by Consortium Legal – Honduras regarding anti-money laundering (AML) legislation, on June 6 2017 the National Banking and Insurance Commission (CNBS) issued the Regulation on the Registration of Non-Financial Professions and Activities (Regulation). Beginning June 15 2017, attorneys, accountants, and various non-financial businesses, including but not limited to car dealerships, casinos, jewellery retail shops, real estate companies, and companies that grant loans without performing financial intermediation, will have to register with the AML registry for non-financial professions and activities of the CNBS.
The information that these non-financial professionals and businesses will have to provide for registration is: a copy of their identification and fiscal numbers; passport; an indication of whether they have worked in the government in order to determine if they have been politically exposed; cell phone, business and home phone numbers and addresses; information about their spouse; information about professional bar association membership; and, the amount of income tax paid in the previous fiscal year.
Once the non-financial professional/business has been registered, it is obliged to renew its registration every year and pay an annual fee of approximately $21. As mentioned last year, once registered, there will be additional requirements for the non-financial professionals and businesses, such as reporting of suspicious or atypical transactions, transactions above $4,000, or above L.200,000 ($8,500). In the case of certain businesses, including law firms and accounting firms, they will have to appoint a compliance officer or compliance committee, whose responsibility will be to verify that the managers and employees of the business are complying with know your customer due diligence provisions and other prevention measures.
|José Ramón Paz Morales|
© 2021 Euromoney Institutional Investor PLC. For help please see our FAQs.